KUALA LUMPUR: Bursa Malaysia closed in the red dragged by profit takings on banks after the recent strong rally.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI was down 1.29 per cent or 21.69 points to 1,653.55 versus Wednesday's closing price of 1,675.24.
The key index opened at 1,672.95 and moved between 1,651.73 and 1,684.68 throughout the trading session today.
Decliners trumped gainers in the broader market 848 to 316 while 461 counters were unchanged.
The index board was a sea of red with FBM100 losing 1.38 per cent to 12,005.87, FBM Emas shed 1.37 per cent to 12,300.20 and FBM Ace lost 0.75 per cent to 5,081.08.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the drag in the benchmark index is viewed as a healthy correction.
"It provides a good opportunity to accumulate at a lower level and form a strong foundation for a sustaining uptrend.
"We anticipate the FBM KLCI to trend within the range of 1650-1670 towards the weekend," said Thong.